Amalgamated Bank Has $4.54 Million Stake in Regions Financial Co. (NYSE:RF)

Amalgamated Bank reduced its position in shares of Regions Financial Co. (NYSE:RF) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,286 shares of the bank’s stock after selling 5,977 shares during the period. Amalgamated Bank’s holdings in Regions Financial were worth $4,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC increased its position in shares of Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after acquiring an additional 750 shares during the last quarter. HM Payson & Co. raised its stake in shares of Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock worth $36,000 after purchasing an additional 2,000 shares in the last quarter. West Paces Advisors Inc. grew its stake in shares of Regions Financial by 277.2% in the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after buying an additional 1,752 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in Regions Financial by 69.4% during the third quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after buying an additional 1,000 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Regions Financial by 113.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock worth $45,000 after acquiring an additional 1,322 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director William C. Rhodes III acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on RF shares. Truist Financial decreased their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Argus cut Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Morgan Stanley dropped their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Piper Sandler lifted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $20.34.

Regions Financial Stock Performance

RF opened at $19.65 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $21.08. The firm has a market cap of $18.06 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The business’s fifty day moving average is $19.61 and its 200-day moving average is $18.29.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Sell-side analysts expect that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is presently 52.17%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.